GameStop Corp. (NYSE:GME) CEO Ryan Cohen just added another eight-figure bet on his own company.
A Form 4 filed with the U.S. Securities and Exchange Commission on Thursday shows that Cohen purchased 1 million shares of GameStop Class A common stock in an open-market transaction earlier that same day.
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Cohen Likes the Stock
The purchase price ranged from $20.02 to $20.47 per share per share, with a weighted average of roughly $20.38, and Cohen’s total daily outlay came to about $20.4 million.
Following the trade, Cohen directly holds 39,347,842 GME shares, a stake worth roughly $800 million at current prices.
Including warrants tied to underlying shares, his exposure climbs to about 43,082,626 shares. No Rule 10b5-1 trading plan accompanied the purchase, meaning Cohen made the call in real time rather than through a pre-set schedule.
The buy landed two days after GameStop posted second-quarter results that beat estimates on both lines. Adjusted earnings per share came in at 27 cents versus a 19-cent consensus, while revenue of $790.2 million topped forecasts even as it fell 18.7% year over year.
Operating income hit $160.2 million, the strongest second quarter in company history, driven by a 57% surge in collectibles sales. Management also raised full-year adjusted EBITDA guidance to above $650 million.
Other GME Insiders Buy
Cohen was not the only insider adding shares this week. Board member Lawrence Cheng purchased 55,000 shares on Sept. 8, spending roughly $1.03 million at an average price near $18.80, which lifted his declared stake to 143,000 shares.
Director James Grube bought 10,255 shares on Sept. 9 near $19.12, and Lead Independent Director Alain Attal picked up 5,000 shares on Sept. 10, the same day as Cohen’s purchase, at roughly $20 each.
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Four insiders buying in a single week marks an unusually broad show of confidence from GameStop’s board.
Cohen’s insider buying comes against the backdrop of his unresolved pursuit of eBay Inc. (NASDAQ:EBAY). GameStop offered $125 per share for the e-commerce giant in a roughly $56 billion cash-and-stock deal back in May, only to see eBay’s board reject the bid as “neither credible nor attractive.”
GameStop has since pledged to keep pursuing the deal, though details on next steps remain thin.
Retail traders have closely watched Cohen’s personal stock activity since his early involvement sparked the 2021 meme-stock rally.
This latest purchase reinforces his standing as GameStop’s largest shareholder while signaling confidence heading into a stretch defined by the eBay standoff and a business increasingly leaning on collectibles rather than traditional game sales.
GME Stock Price Activity: GameStop stock was up 4.07% at $21.22 during premarket trading Friday, according to Benzinga Pro market data.
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